Shopping Centers Today

JUL 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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42 S C T / J U L Y 2 0 1 8 Oklahoma TriGate Capital acquired the Bryant Square power center, in Edmond, for $38 million this year from InvenTrust Properties and pegged JAH Realty to lease and manage. Bed Bath & Beyond, Old Navy, Petco, Ross Dress for Less and Stein Mart anchor the 42-year-old, 265,600-square-foot center. is was one of the first large shopping centers in Edmond, a suburb of Oklahoma City. A major renovation last year demolished and replaced old outparcel stores and modernized most of the facade. e center has welcomed several new tenants, including Kay Jewelers, Ulta Beauty and Verizon. Oregon Regal Entertainment Group will open a luxury 14-screen movie theater at Lloyd Center, in downtown Portland, early next year as part of an ongoing $120 million renovation of that 58-year-old mall. Over the past sever- al years, owner EB Arrow has added offices, built a food court, overhauled an ice rink and remodeled the three-story winding staircase. e movie theater will occupy part of the former Sears store at this three-story, 1.2-million square foot property, which was the largest shopping center in the country when it opened. EB Arrow has plans to add a live-music venue and more restaurants. Pennsylvania City Fitness, Iron Hill Brew- ery, T.J.Maxx and Wawa are among tenants soon to join MOM's Organic Market and AT&T at East Market, a $600 million redevelopment of an entire block in Philadelphia's Center City. In the $250 mil- lion current first phase, National Real Estate Development razed an old retail building and replaced it with 105,000 square feet of retail space spread between two, two-story podiums. An apartment tower recently opened, and con- struction has begun on a second one that will dedicate some units to ROOST, an extended stay concept. Future phases at East Market include an historic building renovation and more retail space in mixed-use towers. Rhode Island Developer Robert Kempenaar has plans to build a 17,000-square-foot project with a coffee shop, retail and office space, and four second-floor apart- ments in place of the former Citizens Bank building, in Middletown. Citizens Bank would remain to be an anchor tenant, with a much smaller building than before. e opening is anticipated in early 2019, and the project will cost about $5 million. South Carolina Hughes Investments recently hired e Shopping Center Group to attract retail, restaurant and entertainment tenants to its $100 million BridgeWay Station town center, on 40 acres in Greenville County. e 1 million-square-foot development, just southeast of down- town Greenville, will comprise 300,000 square feet of retail, 180,000 square feet of offices, nearly 400 apartments and a 175-room hotel. e plans also call for a community center, 16 acres of green space and some pedestrian and bike paths with access to a 22-mile regional trail. Hughes Investments is building upon 430,000 square feet of offices nearby that house Samsung and other high-profile tenants. South Dakota Stropiq has plans to develop the $500 million Williston (N.D.) Crossing — a 219-acre mixed-use project with a water park and a hotel, some big-box stores, and housing and office space, in a parklike setting. e project's location is to be near a planned airport. Tennessee Capitaliz- ing on Nashville's growing tourism industry, developers OliverMcMillan and Spec- trum Emery have embarked on a massive, $430 million mixed-use project next door to the city's premier music venues and the 4-year-old Music City Center conven- tion hall. Fih & Broadway, as the project is called, is replacing the former convention facility with some 235,000-square-feet of retail, restaurant and entertainment space, a 25-story office build- ing and a 34-story residential tower. e project is to begin opening in late 2019. So far the tenants include the National Museum of African American Music, a 100,000-square-foot food hall and retailer H&M. OREGON TENNESSEE

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